Comments on: New UK programme joins the accelerator vogue, offers evergreen funding

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By: Paul Miller » The Startup Factories

Paul Miller » The Startup Factories — Fri, 29 Jul 2011 16:37:20 +0000

[...] New UK programme joins the accelerator vogue, offers evergreen funding (eu.techcrunch.com) [...]

By: Oxygen Accelerator founder talks about new startup programme (TCTV)

Oxygen Accelerator founder talks about new startup programme (TCTV) — Wed, 29 Jun 2011 15:28:06 +0000

[...] An exception to that rule is the new Oxygen Accelerator, a Birmingham, UK, based investment programme which recently launched. [...]

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By: Anonymous

Anonymous — Wed, 11 May 2011 22:22:00 +0000

It’s good to see accelerators coming to the UK – however, the costs here do seem a bit steep. I’m wondering if anybody in the UK could adopt the Starve ups model:

http://www.iijiij.com/2011/05/10/an-accelerator-that-outperforms-y-combinator-and-techstars-08868

This is a non-profit “virtual incubator and accelerator with its cornerstone as peer mentoring”.

By: Startupbootcamp to sponsor development of Startup Weekend in Europe

Startupbootcamp to sponsor development of Startup Weekend in Europe — Wed, 11 May 2011 14:59:32 +0000

[...] this week, we announced the launch of yet another startup accelerator in Europe. Oxygen Accelerator joined the growing list of YCombinator-like [...]

By: Matt Auckland

Matt Auckland — Wed, 11 May 2011 11:22:00 +0000

So let me get this right. I surrender 6% of my startup, for £20k, which I then have to pay back, yet they keep the 6% stake in my startup.

I hope they plan to wine and dine the startups before they f……

By: Nicolas Holzherr

Nicolas Holzherr — Tue, 10 May 2011 08:13:00 +0000

In all fairness, it’s a loan that you only pay back once (IF) you’re successful. Given the support in general that the programme offers, it’s a worthwhile programme to enter at the start of a venture.
£20k @ 6% values your business at over 300k.. and all investors expect a return.

By: George Bevis

George Bevis — Mon, 09 May 2011 23:20:00 +0000

I don’t think these terms are bad. Small percentages like 6% are pretty irrelevant. £20k at the earliest stage can make a difference and for the types of very inexperienced entreps who will choose this programme it’s probably money unavailable elsewhere. Birmingham, of course, is a bloody silly place to do this. The best thing about doing Seedcamp for me was exposure to the London scene but people stuck in Birmingham won’t get that – and many good teams will be put off by the location. Overall I think commenters here are being too hostile – this looks well-intentioned and well put-together, with most of the risk being taken by the creator not the startups.

By: Dan Hill

Dan Hill — Mon, 09 May 2011 18:52:00 +0000

6% for a loan? Daylight robbery. Surely get investment that believes in you or none at all? @seedcamp:twitter or @techstars:twitter or @ycombinator:twitter are significantly better value. Even FFF makes more sense for contacts/network… Seems odd, because they have some great mentors like @katyt:twitter Are you a mentor Mike?

By: Oxygen Accelerator 的evergreen基金 | TechNode Trend!

Oxygen Accelerator 的evergreen基金 | TechNode Trend! — Mon, 09 May 2011 15:42:59 +0000

[...] #technode微趋势#现在创业公司加速器成为了主流，现在，英国的投资项目Oxygen Accelerator 开始接受英国有限公司的申请，项目为期13周，为有前途的创业公司提供2万英镑的evergreen 基金。直到公司有能力偿还这笔钱的时候，这两万基金将回流到项目。也许可以成为Ycombinator。http://eu.techcrunch.com/2011/05/09/new-uk-programme-joins-the-accelerator-vogue-offers-evergreen-fu… [...]

By: Anonymous

Anonymous — Mon, 09 May 2011 13:50:00 +0000

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By: Eugene B

Eugene B — Mon, 09 May 2011 12:47:00 +0000

F
rom around the world? They don’t meet
£50,000 entrepreneur visa requirement. That means from EU only I guess.

By: Chris Puttick

Chris Puttick — Mon, 09 May 2011 12:41:00 +0000

6% equity to get a loan? Hmmm. Doesn’t sound like the best deal on the table. Let’s imagine my Internet service in 5 years; I’ve paid the £20k in year two. In year 5 the company gets bought for £20m, making the equity stake worth £1.2m, a 61x return. Or as it was a loan, something like 1200% APR…

By: Neanda

Neanda — Mon, 09 May 2011 12:31:00 +0000

6% equity as an interest payment on a 20K loan is nothing short of a joke. mike, i’d be embarrased to be associated to this, and i feel sorry for those who later pitch to investors after accepting this offer and get laughed out of town.

cmon, seriously?

By: OrwallO

OrwallO — Mon, 09 May 2011 12:21:00 +0000

Give up 6% for a loan? what a joke.

By: Mike Butcher

Mike Butcher — Mon, 09 May 2011 11:34:00 +0000

I did wonder about this aspect. Convertible note would probably be better.

By: Peter Storey

Peter Storey — Mon, 09 May 2011 11:19:00 +0000

That’s for a 20k loan that you’re obliged to repay. Not something like a convertible note where the option exists to buy equity at a later date, but rathermore you give 6% of your business up front as an interest payment. Shoddy.

By: Peter Storey

Peter Storey — Mon, 09 May 2011 11:19:00 +0000